In late 2008, deprived of his postal income, but still determined to put his daughter through college Richard decided to take his chances in the stock market. He invested in the satellite radio company Sirius XM (SIRI) hoping it would be the technology of the future and a fast-pass to big returns. The stock tanked to a low of 5 cents per share and many Sirius XM investors blamed egregious market manipulation and naked short selling for the decline. Feeling out-gunned by flash traders and slick market makers, the retired postal worker began reaching out to government agencies for help. "I sent out over 50 letters to the news media and government officials demanding the truth be told, and telling them about Sirius XM," he says.
Richard sent his letter to the producers of the financial film "Stock Shock-The Short Selling of the American Dream." The movie had chosen to spotlight Sirius XM stock as the vehicle by which they would explain stock market shenanigans because the stock was often listed as "the most shorted stock in the market." Director Sandra Mohr met Richard on set in Massachusetts and offered him the role of narrator immediately. "Richard had the voice of the all-American working man. He was exactly what we were looking for," she says. Shortly after the movie was released, Sirius XM stock rose nearly 1000% as short sellers abandoned the equity.
From bloggers to shareholder activists, "Stock Shock" has resonated with investors who are rallying for change on Wall Street. Many viewers sent their DVDs directly into the Securities and Exchange Commission with angry letters demanding protection from Wall Street bullies. Antony Richard Petrilla, Division of Enforcement at the SEC confirmed the offices have received copies of "Stock Shock" and the SEC public affairs office has been in communication with the film's director, Sandra Mohr. In July 2009, the SEC brought its first case against "naked short sellers."
"Stock Shock" is the first of 3 films due out of Hollywood that target the U.S. Stock Market. Michael Moore will soon release "Capitalism a Love Story" and Oliver Stone has started shooting the film "Wall Street 2." All profile market manipulation in the American stock market. Hopefully they will help educate investors and influence regulatory change at the SEC.
"I never thought in my wildest dreams I would be in a Hollywood movie telling the world about stock market corruption,"
"Stock Shock" is now available on DVD at Amazon.com and www. stockshockmovie.com
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Mohr Productions, Inc. produces television and film projects for Broadcast TV, Internet, and Theater distribution. Award winning company. Clients include: MTV, United Paramount, Universal, Nickelodeon, HBO, and SyFy Channel.